Baltic Innovation Fund

The Baltic Innovation Fund (BIF) is a Fund – of – Fund initiative launched by the EIF in close co-operation with the Governments of Lithuania, Latvia and Estonia in 2012 to boost equity investments made into Baltic Small and Medium sized enterprises (SMEs) with high growth potential.

BIF will invest EUR 130 million into private equity and venture capital funds focusing on the Baltic States over the next four years through a ‘fund of funds’ process to attract additional private finance and implement the best market standards for equity investing in businesses. INVEGA will invest 20% of the fund BIF size. The corresponding national agencies from Latvia and Estonia – ALTUM (Latvia) and KredEx (Estonia) will also contribute 20%, while the EIF will invest the remaining 40% of this fund.

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